TAX 612 - Federal Estate and Gift Taxation

3 Credit(s)

Students learn how assets are transferred and how gifts are taxed under the unified gift and estate tax law. They will be able to advise clients as to which assets will be subject to a federal estate tax and will be able to recommend strategies to clients that will minimize their estate and gift tax. Students learn how to develop an annual gifting program for clients and to suggest other alternatives that will maximize the client’s unified credit and ensure that the client’s family members will be provided for in a way that makes sense given the family’s personal, financial, and tax position. Techniques to use trusts and valuation discounts will be provided to give the student the ability to assist high net worth clients and work with other advisors for appropriate and efficient transfers of wealth to the heirs or charities. Students learn how income taxes will affect the choices of wealth transfer planning. This is a required class for MSTFP students.